Statement by University of Phoenix on the Release of the University Financial Aid “Shopping Sheet” by the U.S. Department of Education and the Consumer Financial Protection Bureau
FOR IMMEDIATE RELEASE
Phoenix--July 24, 2012--University of Phoenix is proud to be among the first institutions to commit to a new “Shopping Sheet” for universities and colleges designed to make financial aid decisions simpler for students and parents and allowing them to make more informed choices about their higher education options. In addition, we’re dedicated to going above and beyond by providing additional tools which reach beyond the one-year financial calculations provided by the proposed document by giving our students a personalized multi-year financial plan, including the impact of credit transfers.
We look forward to incorporating this new format into the leading educational resources and tools we provide our students to ensure financial transparency and clarity before they enroll.
Importantly, we welcome the U.S. Department of Education’s formal initiative to formulate a more accurate and comprehensive measurement of graduation rates. The current definition of graduation rates is woefully inadequate and does not capture the vast majority of non-traditional and adult learners, who today represent more than 70 percent of all college students.